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The Championship club's persistent issues are seen as a "major concern" and the independent regulator is seeking powers to investigate clubs in comparable cases, the recently named head the official has announced.

Through a comprehensive talk, the chairman, who was named to the position this week, expressed "sympathy" towards the club's followers.

Kogan met with four fan organizations associated with the football team this week.

The Championship side have been struggling on and off the field in this season, with the club missing wage payments on multiple instances, including in September.

"Evidently Wednesday represents a significant problem for EFL and a significant problem for football," the regulator explained.

"Wednesday stands as one of the great brands for English football and in recent days we have met Sheffield Wednesday supporters' groups.

"We're now looking to get powers... which will permit us to bring Wednesday and comparable cases submitted for our review if they warrant scrutiny and acted upon."

Monetary Issues and Ownership Situation

Wednesday's embattled owner Dejphon Chansiri stated during the off-season he would be prepared to relinquish control at the stadium, but he has failed to complete a sale with potential new owners.

Missed wage deadlines on time in spring months resulted in restrictions being imposed by the football authorities in summer, stopping Wednesday from completing any transfers or loans for the next three transfer windows, although those limitations were removed in the end of the transfer window.

Authority's Position

Kogan said: "The position was created for the fans of Sheffield Wednesday, other clubs in similar situations where supporters are loyal to a regional establishment that has existed throughout their lifetimes in many cases.

"I have absolute sympathy for the club's situation, as I do for every team that in modern times have encountered failure, or been close to going to the wall, for causes separate from the supporters."

When asked if the authority might compel an owner to sell a club if they are considered unfit, the chairman responded: "If your question is 'would we intervene in the final instance?', the answer is once we collect the information and understand the situation, we will."

But Kogan stressed that forcing owners to sell clubs would be considered the final option and the authority would rather to collaborate with owners.

"Our least desirable course of action is commence engagement with an individual club, an particular chairman, without being able to work with that chairman to fix the issues that the club's facing and the owner's facing," the regulator explained.

"However, realistically, when you look back over the history of the game, over the recent generations there have been some owners, not many, but particular people who have shown negligence in the manner they have operated their clubs and ultimately refuse to accept accountability for the future."

'Mistakes could erase significant advances'

The chairman convened with delegates from multiple organizations to detail the scope of the oversight body this week and maintained it represented a "progressive gathering" with a "high level of engagement" from the grassroots to elite level.

"The role holds considerable importance, because if we get it wrong, if the football community fails, the significant advances achieved could disappear rapidly," Kogan said.

"Such an outcome is universally undesirable in the realm of domestic football is a substantial accomplishment - we've got to keep it going.

"Considerable investment flowing into the game and has been channeled for the recent generations, because there's no guarantee it will continue to come into football, which is part of the rationale behind I think we have to adopt a precise perspective on potential dangers and naturally, of the immediate future."

Elite Division Worries

The Premier League opposed the establishment of an oversight body because of concerns about detrimental effects on the top-flight's competitiveness, but the chairman responded: "I'm absolutely committed to the success and growth as an economic entity of the top division.

"I of all people understand the concern of undermining the Premier League as a premium product of the nation. But at the same time, if you engage with division representatives after the recent gathering, they would have had a high level of reassurance -and, actually, they have been telling us in private they have a high level of reassurance."

Political Connections

Kogan is still facing a "comprehensive investigation" by the public appointments commissioner after he disclosed making donations to the Labour Party in recent years.

The chairman contributed funds to Culture Secretary Lisa Nandy's leadership campaign, along with that of the government leader.

"I have been entirely transparent regarding my previous political affiliation [with Labour], and that ideological connection terminated the day the parliamentary committee confirmed my selection," Kogan said.

"I am no longer involved in any sort of politics."